Three years after purchasing the famed alt-weekly the Village Voice and almost exactly a year after ceasing its print operations, owner Peter Barbey told staff today that the publication will no longer be posting new stories, reports Gothamist.

“Today is kind of a sucky day,” Barbey told the staff of around twenty people during a conference call, which was recorded by a staffer. “Due to, basically, business realities, we’re going to stop publishing Village Voice new material.”

Barbeywho belongs to one of the country’s wealthiest families and is the owner of the Reading Eagle newspaper in Pennsylvaniaclaims that he bought the Village Voice from Voice Media Group in 2015 to save it. After ending its print edition in August 2017 in an attempt to “revitalize and reimagine” the brand, Barbey laid off thirteen of its seventeen union employees.

According to the Columbia Journalism Review, which also listened to audio from the call, Barbey said, “I’ve been having conversations with other entities for months now and it all depends, but [ending editorial content] is something we have to do before they could talk to us any further.”

It’s expected that half of the staff will stay on to archive the iconic New York magazine’s more than six decades’ worth of reportage, while the rest of the staff will be let go today.